Vinted Sellers Alerted to Tax Reporting Requirements Amid New UK Rules
Vinted users in the UK who have sold more than 30 items or earned over £1,700 in a year are being prompted to provide their National Insurance number due to new tax reporting requirements. This development has caused confusion among sellers, many of whom are concerned about potential tax liabilities. The requirement stems from regulations that mandate digital platforms like Vinted, eBay, and Etsy to report user sales data to HMRC. The rules, effective from January 1, 2024, aim to curb tax evasion by ensuring that individuals who effectively run resale businesses are taxed appropriately. However, those selling personal items for less than their original purchase price are not subject to these taxes. Chartered accountant Abigail Foster reassures that most casual sellers need not worry about tax implications unless they are operating a business. 
